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Integration of prepaid credit card in the CRM to help population with no/zero credit history
A breakthrough in the credit journey to support people in securing loans, credit, and other financial services in the future.
PROJECT DURATION
4 Months
YEAR
2022
ROLE
Product Designer
TEAM
(Internal & external)
2 Designers
3 Founders
3 Product Managers
16 Engineers
DELIVERABLES
User flows, Information architecture, Prototype mockups, Design system, High-fidelity prototype
As a product designer, I contributed to the "Credit for Everyone" mission, working with internal and external cross-functional teams to launch an MVP of a prepaid credit card app. This app is designed to help individuals start their credit journey.
Dive into the part-1,2 for better understanding
3
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Integration of prepaid credit card in the CRM to help population with no/zero credit history
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37% increase in conversion rate
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MVP onboarded 1430 users in 3 months
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$0.5 Mn deposits + $90k transactions in 7 months
1
How a system connects remote communities with Financial services using CRM
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Skip this part (context) if you have already gone through the previous parts in the series
A system designed to educate, empower and incentivize users for helping their communities reaching financial goals
An affiliate-led financial products distribution platform
Mukesh
A rockstar feature in the app that set a new benchmark in the history of fintech solutions
Users can add customer details to generate referral links for products.
And it displays which products they are eligible for, where users can earn for each referral
Every solution has its own problems, and we have one too
There is a scenario where customers are rejected for all listed credit cards.
🤯 🤯 🤯
And the system will not display
the "credit cards section"
Why and how does it impact users and the business?
Since most of our user base comes from rural communities and includes low-income employees and small business owners...
81% of users are loosing 9 in 10 customers due to:
1) No supporting documents
2) No credit history
To solve this issue, we partnered with third parties to integrate SDK in our new product
Without leaving the user in a blank state, it displays the Magnet credit card.
When, in case, all credit cards are rejected...
Where we integrated new app with the collaboration with "GILD - a third party app (SDK integration)"
How it will help user and his customer?
Each user is helping their customers start their credit journey, which helps them secure loans, credit, and other financial services in the future using "Magnet credit card"
Low-wage employees can invest in their future, and small businesses can expand their operations with loans.
I collaborated with internal and external (third party) teams to match our design with their SDK
Understanding our product scope and goals
Analyzing third party's SDK
Refining user flows and information architecture
Keeping design system and visual language aligned
I created our own design system, user flows and features to match our product scope
Updated the visual style to cater to our audience.
Our own design system like Fonts, colors, typography and iconography
Information architecture and user flows iterated based on our product scope
Here is the MVP flow that every customer will follow to obtain a prepaid credit card.
Start
Choose fixed deposit plan
5k
10k
25k
50k
Social proof verification
PAN & AADHAR
Customer application form
Personal details
Deposit plan confirmation
5k
Bank account confirmation
For re-payments
Deposit payment
Payment succesful
Credit limit approval
43k
Personalize card
Engraving name
End
Physical card delivery request
Delivery address added
Activate card
Scan QR on card
Setup PIN
4 digit pin
Repayments
Transactions
Raise issues
How it performed: Few impactful metrics that I'm always proud of
🔼 37%
Conversion rate
$0.5 Mn
Deposits made in 7 months
1430
New users onboarded in 3 months
$90K
Transactions made in 7 months
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